Madison Realty Lends $463M for First St. Regis Condo in Sunny Isles, Fla.
Monday, October 26, 2026 · first reported by Commercial Observer
Madison Realty Capital has provided a $463 million construction loan to Fortune International Group and Château Group for the St. Regis Residences condo project at 18801 Collins Avenue in Sunny Isles Beach, Fla. The loan refinances Bank OZK debt, of which $418 million has been issued since 2024, and funds completion of the 170-unit South Tower.
A sponsor representative said the South Tower, which broke ground in 2023, should finish by the end of 2028. Of its units, 80 percent have presold for over $1.6 billion. The 150-unit North Tower has not started construction but has $114 million from City National Bank of Florida. Berkadia arranged the financing.
- Also named
- Fortune International Group, Château Group
- People
- Josh Zegen
- Asset class
- Credit, Real estate
- Geography
- North America
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